Jennison Associates LLC Lowers Stock Position in BioLife Solutions, Inc. (NASDAQ:BLFS)

Jennison Associates LLC cut its stake in shares of BioLife Solutions, Inc. (NASDAQ:BLFS) by 90.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,978 shares of the medical equipment provider’s stock after selling 364,461 shares during the period. Jennison Associates LLC owned 0.09% of BioLife Solutions worth $650,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Huntington National Bank purchased a new stake in shares of BioLife Solutions during the 3rd quarter valued at $1,697,000. Barclays PLC grew its stake in shares of BioLife Solutions by 205.3% during the 3rd quarter. Barclays PLC now owns 56,968 shares of the medical equipment provider’s stock valued at $787,000 after buying an additional 38,311 shares during the period. Millrace Asset Group Inc. purchased a new stake in shares of BioLife Solutions during the 3rd quarter valued at $676,000. Roubaix Capital LLC acquired a new position in shares of BioLife Solutions during the 3rd quarter valued at $2,029,000. Finally, Meros Investment Management LP lifted its holdings in shares of BioLife Solutions by 14.7% during the 3rd quarter. Meros Investment Management LP now owns 372,203 shares of the medical equipment provider’s stock valued at $5,140,000 after acquiring an additional 47,724 shares in the last quarter. 93.24% of the stock is owned by hedge funds and other institutional investors.

BioLife Solutions Stock Performance

Shares of BLFS stock opened at $17.53 on Friday. BioLife Solutions, Inc. has a 12 month low of $8.92 and a 12 month high of $24.50. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.86 and a quick ratio of 1.83. The firm has a market capitalization of $794.11 million, a P/E ratio of -11.53 and a beta of 1.67. The company’s fifty day moving average price is $17.35 and its two-hundred day moving average price is $15.46.

BioLife Solutions (NASDAQ:BLFS) last issued its quarterly earnings data on Thursday, February 29th. The medical equipment provider reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. BioLife Solutions had a negative net margin of 46.37% and a negative return on equity of 13.36%. The firm had revenue of $32.73 million for the quarter, compared to analyst estimates of $32.70 million. On average, research analysts anticipate that BioLife Solutions, Inc. will post -0.6 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BioLife Solutions news, CEO Greef Roderick De sold 7,249 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total value of $120,333.40. Following the transaction, the chief executive officer now owns 461,854 shares in the company, valued at approximately $7,666,776.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Sarah Aebersold sold 4,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $17.65, for a total transaction of $70,600.00. Following the completion of the sale, the insider now owns 65,843 shares of the company’s stock, valued at approximately $1,162,128.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Greef Roderick De sold 7,249 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $16.60, for a total transaction of $120,333.40. Following the sale, the chief executive officer now directly owns 461,854 shares of the company’s stock, valued at approximately $7,666,776.40. The disclosure for this sale can be found here. Insiders have sold 33,996 shares of company stock worth $562,145 in the last quarter. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, Jefferies Financial Group began coverage on shares of BioLife Solutions in a report on Thursday, April 4th. They set a “buy” rating and a $22.00 target price on the stock. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat.com, BioLife Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $23.40.

About BioLife Solutions

BioLife Solutions, Inc develops, manufactures, and markets bioproduction tools and services for the cell and gene therapy (CGT) industry in the United States, Europe, the Middle East, Africa, and internationally. The company's products are used in the basic and applied research, and commercial manufacturing of biologic-based therapies.